Array Technologies Q4 2023 Adj EPS $0.21 Beats $0.11 Estimate, Sales $341.62M Beat $314.86M Estimate
Portfolio Pulse from Benzinga Newsdesk
Array Technologies (NASDAQ:ARRY) reported Q4 2023 adjusted EPS of $0.21, surpassing the $0.11 estimate, with sales of $341.62M exceeding the $314.86M estimate. However, this represents a 15.04% decrease in sales compared to the same period last year.
February 27, 2024 | 9:43 pm
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Array Technologies reported a strong Q4 2023 with adjusted EPS of $0.21, beating estimates, and sales of $341.62M also surpassing expectations. However, sales have decreased by 15.04% compared to the same period last year.
The positive earnings and sales beat are likely to have a favorable short-term impact on ARRY's stock price, despite the year-over-year decrease in sales. Investors typically respond well to earnings beats, which can drive stock prices up in the short term.
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